Diesel capitalized

[Asked by Guest]

Dear Sir,

My friend advised me, We can capitalized of Diesel.

Please advise we can or not.

Thanks & Regards,

Sanjay Vasava

[Ganeshan Kalyani]

Do you mean petroleum product diesel. It is subject to condition whether can be capitalised or not.

Dear Sir,

Yes petroleum diesel.

Thanks & Regards,

Sanjay Vasava

AI Summary

Capitalization of diesel may be permissible subject to qualifying conditions determining whether it meets asset recognition criteria.
Whether petroleum diesel may be treated as a capitalised item depends on applicable qualifying conditions determining whether the fuel can be recognised as an asset; capitalization is not automatic.